#singapore

Housing prices in the city-state are expected to rise by up to 15 percent in the next year. Multinational bank BNP Paribas SA believes prices of residential properties in Singapore are set to recover as it has already hit rock-bottom, reported Bloomberg . The first stage in the price rebound is expected to be driven by “very significant” income growth, said the company’s Asia Pacific research head for financial institutions and property, Wee Liat Lee. SEE ALSO: 49% of S’poreans aspire to buy property in near future Given that property ownership as a percentage of household assets here is near a record low, he anticipates prices to increase by 10 percent to 15 percent in the next 12 to 15 months. In turn, this uptrend would attract foreign buyers, particularly those from China. On the other hand, Wee thinks that home prices in Hong Kong will continue to rise after it hit re...